The D-8 organization was founded in 1997 with the goal of promoting cooperation and strengthening the global economic position of its member countries. As a group dedicated to economic collaboration, the Developing Eight (D-8) has launched numerous initiatives to enhance trade, investment, and development among its members, aiming to raise living standards across member states.
For Indonesia, the D-8 presents significant opportunities to reap economic benefits. This is evident in the high trade volumes within the group and with other countries. In 2023, D-8 nations recorded a combined Gross Domestic Product (GDP) of about US$ 4.81 trillion. This figure has the potential for further growth, especially since the D-8 represents roughly 1.3 billion people across South Asia, Southeast Asia, Central Asia, the Middle East, and Africa. Consequently, this creates a large market for Indonesian products and provides a labor force that can support human resource development.
"We must realize that the D-8 indeed holds immense potential. Overall, the D-8 represents the third-largest economic growth globally with a combined GDP of US$ 4.81 trillion in 2023," said Indonesian President Prabowo Subianto at the plenary session of the 11th D-8 Summit at the New Administrative Capital Presidential Palace in Cairo, Egypt, on Thursday, December 19, 2024.
D-8 member countries have also continuously introduced impactful initiatives. For example, they agreed to offer tax relief on goods and services from members with 40 percent local content, and visa exemptions for business travelers entering D-8 nations. To this day, the D-8 continues to pursue initiatives aligned with evolving global developments.
Starting January 1, 2026, Indonesia assumes the D-8 chairmanship, leading the efforts to leverage the strengths of the global economic architecture. This leadership is expected to bolster the D-8's global economic standing, unlock new opportunities, and deliver tangible benefits for its member states. 2026 presents golden opportunities for Indonesia and other members to expand their economies, notably through the blue economy.
The blue economy refers to sustainable economic development through the responsible utilization of marine, coastal, and inland water resources. Under this paradigm, the oceans are preserved to ensure ecosystems remain healthy. Indonesia sees significant potential in the blue economy, as highlighted by President Prabowo at the 2024 D-8 Summit, where he emphasized it as a strategic pillar of cooperation.
"All D-8 countries are in a good position to benefit from and utilize the blue economy's resources. It’s a highly strategic partnership," Prabowo stated.
Additionally, the D-8 also offers opportunities to bolster the halal industry through the D-8 Halal Economic Network. In 2023, the halal industry had a market potential of US$ 2.43 trillion and is projected to grow to US$ 3.36 trillion by 2028. Indonesia currently ranks third in the global halal industry ecosystem, following behind Malaysia and Saudi Arabia, according to the State of The Global Islamic Economy Report (SGIER) 2024/2025. Indonesia sees the D-8 as more than an economic bloc, envisioning it as a global movement that is inclusive, just, and focused on collective prosperity.
"We must also continue to advocate for a more just global order based on international law, inclusivity, justice, and collective welfare," Prabowo concluded.
